On January 30, 2020, the Board of Governors of the Federal Reserve System approved a final rule (the Final Rule) revising the regulations related to the determination of “control” of banks under the Bank Holding Company Act (BHC Act) and of federal savings associations under the Home Owners’ Loan Act (HOLA). The Final Rule is intended to improve transparency and predictability relating to control questions. However, this remains a complex area, and this Client Alert is intended to provide only an overview.
Read our client alert.